South Africa: Inflation holds stable in April
May 18, 2022
Consumer prices increased 0.59% in April over the previous month, below the 0.99% rise recorded in March. April's result marked the weakest reading since January. Looking at the details of the release, the result was largely driven by easing price pressures for transportation. Moreover, prices for alcoholic beverages and tobacco increased at a more subdued pace.
Inflation came in at 5.9% in April, matching March’s result. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 5.4% in April (March: 5.2%). Finally, core inflation rose to 3.9% in April, from the previous month's 3.8%.